"An Act relating to Calcutta pools and crane classics as authorized forms of charitable gaming. "
Section 1 - Amends AS 05.15.080(a) by adding a Calcutta pool as an exception for not submitting a report to the department if a Calcutta pool is, in fact, the only activity conducted by the qualified organization. (Or a Calcutta pool added to page 1, line 13 and page 2)
Section 2 - Amends AS 05.15.080 by adding a new subsection. The purpose of this subsection is to require those holding Calcutta pools to file a report for each pool conducted on a form prescribed by the Department of Revenue.
Section 3 - Amends AS 05.15.100(a) by adding crane classics, Calcutta pools (added to page 2, line 17) to the list of activities that are permitted by the Department of Revenue if the municipality or organization qualifies to hold such an activity.
Section 4 - Amends AS 05.15.100(c) by clarifying that an operator's license may not be issued to any person to conduct a Calcutta pool. The Calcutta pool must be overseen by an individual who is directly involved with the organization holding the permit. (Other than a Calcutta pool, was added to page 2, line 21 and page 2, line 24)
Section 5 - Amends AS 05.15.115(c) by adding crane classics, Calcutta pools (added to page 3, line 1) to distinguish the difference between these particular activities among others listed in this section.
Section 6 - Amends AS 05.15.160(d) by adding or Calcutta pools (page 3, lines 4 &5) to the types of activities that are not under a category a gaming activity that my not exceed 90 percent of the adjusted gross income from that activity. (this is further clarified in the next section)
Section 7 - Amends AS 05.15.160 by adding a new subsection (e) that clarifies that the total amount of expenses that may be incurred and prizes that may be awarded in connection with a Calcutta pool may not exceed 70 percent of the pool of wagers. Therefore, guaranteeing the permittee/charity receive no less than 30 percent of the pool of wagers/money raised.
Section 8 - Amends AS 05.15.180(b) by adding crane classics, Calcutta pools (page 3, line 16) to the list of activities that can be licensed by the department if they were not in existence before January 1, 1959.
Section 9 - Amends AS 05.15.180 by adding a new subsection (h). This subsection clarifies that Calcutta pools may not be conducted for elementary, secondary, postsecondary, or youth organization sporting events. The organization holding the Calcutta pool may not accept a wager on a competitor unless the competitor is at least 18 years of age. And a person may not place wager on a competitor unless the competitor is 18 years of age or older. This subsection also clarifies that a Calcutta pool may not be conducted unless the rules for a Calcutta pool are publicly posted and available to all participants in the pool.
Section 10 - Amends 05.15.690 by adding new paragraphs that clearly define a Calcutta pool and crane classic.